About Debt Purchasing

Debt consolidation is the practice reducing the number of creditors whom you owe money to. This is normally done by choosing or partnering with a lender (bank or credit card) that will give you the best terms and rates in order to buyout the debt you owe to other creditors. The benefit is 1) easier debt management with one or two monthly bills to pay and 2) an improved credit rating by simply reducing the number of active creditors that show up on your credit report. This is what your loan officer wants to see, so your FICA score (credit score) show higher, which is better.

Debt negotiation is the practice of working with your creditors to either 1) reduce the amount of debt you owe to them or 2) get better rates and/or terms for existing debt you are currently servicing. Debt consolidation and negotiation can both be part of an overall debt reduction strategy.

CondoAssociation.com is now purchasing the debt of condo associations and HOA's that can't wait prolonged periods to get deliquent condo fees paid via the legal process. This is a viable solution for HOAs and Condo Associations that need cash now.  With the number of HOA's and Condo Associations headed toward either cash flow issues or even banruptcy, debt purchasing is a viable alternative.  The face value of the HOA deliquent fees or debts should be a minimum of $100,000.